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A lot goes into figuring out how much money you need to retire. In the end, the amount you need to retire depends as much on the amount you spend as it does on the amount you have saved.
Rule of 25: After accounting for her Social Security and other sources of retirement income, Katie plans to spend $40,000 a year in retirement. 40,000 x 25 = $1 million, so Katie would need $1 ...
In this example, your Social Security income reduces the amount of savings needed from $1.5 million to around $907,500. To estimate your expected Social Security benefits, the SSA provides an ...
To generate $75,000 per year in retirement, you would need retirement savings of $1.875 million using the 4% rule. For a $100,000 annual retirement income, the 4% rule would suggest a nest egg of ...
Financial planners use various models to project what you'll need in retirement. Find out how your $3 million nest egg could safely pay $120,000 a year. ... sure that your money will last at least ...
On the other hand, you fund Roth IRAs and Roth 401(k)s with after-tax contributions, meaning you pay taxes on the money before it goes into the account. Qualified withdrawals from Roth accounts ...
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